New Zealand media group NZME has refused an approach from Southern Cross Media about the potential sale of its radio stations.
Southern Cross on Monday confirmed a report in The Australian newspaper that it was interested in acquiring NZME's radio assets, provided they could be separated from its print business.
The Australian radio group said NZME declined to enter into discussions, citing exclusivity provisions in a proposed merger with Fairfax Media's New Zealand operations which is currently before the New Zealand Commerce Commission.
